ACWA Power to implement projects worth $115bn worldwide

30/10/2025 02:55 AST

Saudi utilities giant ACWA Power plans to forge strategic partnerships and secure major financing to support its sustainability goals and strengthen Saudi Arabia's position as a global leader in clean and renewable energy, according to Hisham Tashkandi, the company's regional president in Saudi Arabia.

ACWA Power's total projects in the Kingdom have increased to 39, with investments exceeding $68 billion. These include the Shuqaiq, Ar Rass, and Al Kafa'a projects, all part of an integrated clean energy system in Saudi Arabia, Al-Eqtisadiah reported.

The company continues to expand its presence in renewable energy, water desalination, and green hydrogen through a portfolio of large-scale projects being developed both domestically and abroad.

Speaking on the sidelines of the Future Investment Initiative forum in Riyadh, Tashkandi said ACWA Power now operates around 110 projects worldwide, with an investment portfolio of about $115 billion.

He added: "2025 will be a pivotal year for the company, as it anticipates the completion of several major projects that will contribute to enhancing Saudi Arabia's capabilities in sustainable energy and water desalination."

Tashkandi highlighted the Shuqaiq, Ar Rass, and Al Kafa'a initiatives among the company's most significant clean energy ventures.

He noted that ACWA Power currently produces around 9 million cubic meters of desalinated water daily worldwide, including 4 million cubic meters within Saudi Arabia - about 30 percent of the Kingdom's total production - underscoring the firm's role in supporting national water security.

The company is also developing projects in Rabigh and Hajr, alongside new initiatives under the National Renewable Energy Program, supervised by the Ministry of Energy. Tashkandi said ACWA Power recently launched the fifth and sixth phases of renewable energy projects under the program, with the sixth phase valued at about $6 billion.

Regarding green hydrogen, he explained that the NEOM Green Hydrogen Project will be among the largest in the world, producing approximately 600 tonnes of hydrogen per day once operational. The project marks a strategic step toward achieving the goals of Saudi Vision 2030, including energy diversification and carbon emission reduction.

Tashkandi emphasized that ACWA Power will continue to play a central role in the Kingdom's energy transformation through strategic partnerships and substantial investments that advance sustainability and solidify Saudi Arabia's standing as a global clean energy hub.

For his part, Mohammad Abunayyan, founder and chairman of ACWA Power, said the company's projects include generating around 4 gigawatts of solar and wind energy.

He noted that the world is facing an urgent need for energy security and supply chain stability, and highlighted Saudi Arabia's diverse energy resources - including solar, wind, and storage - as a unique advantage among Gulf Cooperation Council countries.

Abunayyan added that Saudi Arabia is building the world's largest green hydrogen plant, and that renewable energy now powers 100 percent of the company's desalination operations, helping reduce water and desalination costs by about 85 percent over the past decade.

He also pointed out that China plays a crucial role in the global energy transition, saying: "Without China, there would be no energy transition. It is driving innovation and providing solutions for the world."

Arab News